How The Hibiscus Tree achieved their success in the tourism and hospitality industry

2021-11-01T11:12:38+00:00

Because the business owner of the Hibiscus Tree uses Xero as the bookkeeping and accounting software, the financial performance of this organization is automatically measured. At the end of each month, the business owner checks the accounting software to find out the numbers. For example, if the profit in May is higher than the profit in April, the business owner would identify the employees that contributed the most to the organization and give them some kind of reward. In psychology, this strategy is called ‘positive reinforcement’. Note that this only happens when the profit is higher (not when the revenue is [...]